South Africa Is Attracting Wealthy Retirees

South Africa is becoming an increasingly attractive destination for wealthy international buyers looking for holiday homes, retirement properties, and investment opportunities. This broader trend is particularly noticeable in the Western Cape and KwaZulu-Natal, where the Atlantic Seaboard and Umhlanga are experiencing high demand.

Many enquiries stem from referrals by friends and family, and research on desirable retirement destinations.

Returning expatriates and professionals with flexible, remote income streams also show strong interest.

While some international buyers see South African property as a financial investment, most seek permanent or holiday homes.

According to Keri Culver, Senior Immigration Consultant at Xpatweb, the country is becoming increasingly popular among retirees due to its accessible Retired Person’s Visa.

“Among foreign nationals most interested in retiring in South Africa are Europeans, British citizens, Americans, and Canadians,” Culver explained.

One of the main attractions of the Retired Person’s Visa is its affordability compared to other global retirement destinations.

The required income threshold is easily met by those earning in US Dollars, British Pounds, or Euros, thanks to South Africa’s favourable exchange rate and lower cost of living.

Additionally, the visa has no age restrictions, making it an appealing option for retirees.

The Department of Home Affairs (DHA) grants the Retired Person’s Visa for up to four years, allowing unrestricted entry and exit, along with eligibility for permanent residency.

Over 5,000 applications from more than 100 countries have been submitted in the last four years, with the top applicants coming from the UK, China, Germany, and the USA.